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Andy | 6 months ago (raw) | root | parent | reply | flag +2 
 And what about hotwallets through sparrow? Man this feels like the attacks will be bullish for bitcoin and I’m excited to see all the development that will come as a result
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65600 | 6 months ago (raw) | root | parent | reply | flag 
 At the end of the day, if you have a hardware wallet and it says it generates a seed phrase one time, and one time only, you are the most custodial of custodians. 

If you use an app and it says you HAVE TO WRITE IT DOWN OR YOU WILL LOSE ACCESS TO YOUR FUNDS, it is very probable you hold your keys and nobody else does.

If you can just “get started” for free but you are paying additional fees over the appropriate block transaction fees (based on mempool activity at the time) or lightning fees, to use their wallet, you are 100% custodial and if they get shut down or rug, you forfeit everything you held with the wallet. Not safe at all for more than lunch money, and if Bitcoin goes to billions or trillions, you just got rugged for thousands or millions of “today cuckbucks” in the inflated future. 

“in my day FIVE pieces of bubble gum cost a penny!” - all of our grandparents, great grandparents and great-great grandparents.